11 July 2012

Nigeria: FG Urged to Deal With Widespread Corruption

Lagos — The Managing Director of Lenus Resources Ltd, Alhaji Ibrahim Boyi, on Wednesday urged the Federal Government to intensify efforts toward the fight against corruption so as to check its near endemic status in Nigeria.

Boyi in Lagos said that the ongoing subsidy probe provided the government with a platform to demonstrate its zero tolerance for corrupt public officers.

He urged the government to prosecute all those found culpable in the oil subsidy scam as the eyes of the international community were on Nigeria.

Boyi, a former Managing Director of Eterna Oil Plc, also advised government to block all the leakages in the oil sector so as to build public trust.

"Once the public believes in the government's ability to manage its resources effectively, I think there will be less resistance to the deregulation policy.

"And this affects all sectors, not just petroleum; I mean, you can hear the clamour for a better power sector, other sectors.

"So, government needs to check this widespread and pervasive corruption in the society. Once that is done, I think public trust will be regained."

The MD also noted that the nonpayment of petroleum marketers' outstanding subsidy claims could lead to the scarcity of petroleum products nationwide.

"Marketers are not charity organisations; they are set up to make profit from their investment and for their shareholders. If government is not paying them, I doubt if scarcity will not be experienced again.

"The only reason the subsidy regime works is because government was able to ensure regular payment of subsidy claims by marketers."

President Goodluck Jonathan had met with the leadership of the legislative and judiciary arms to evolve strategy towards fighting corruption in the country. NAN

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